Technology Trader

Semicap Fracas: He Says Buy, I Say Sell

Should semiconductor-equipment stocks be valued on peak earnings?

They know how to push my buttons at Goldman Sachs, where semiconductor-capital-equipment analyst Jim Covello told his clientele that Barron's coverage of semicap stocks was sensationalistic propaganda. Jim said I made too much fuss about cancelled orders at Applied Materials and the declining returns that chipmakers have been getting...